Analysis Of Johnson & Johnson 's World Leading Development Of The Consumer Healthcare Market

2239 Words Nov 4th, 2016 9 Pages
The healthcare domain will be briefly reviewed as a whole, but will further analyze Johnson & Johnson’s world leading development of the consumer healthcare market to evaluate the evolution of the healthcare domain into the 3rd largest contributor to the United States Gross Domestic Product (GPD) (Bureau of Economic Analysis, 2016). the expected increase in the consumer healthcare market and how that growth will further propel Johnson & Johnson to maintain its status as the worldwide leader in sales of consumer healthcare products will also be analyzed (Johnson & Johnson Services Inc., 2016).
Healthcare Market Domain
In 2015, healthcare spending added over $1.3 trillion to the United States GDP (Bureau of Economic Analysis, 2016). According to recent analysis, consumer spending in the overall healthcare market is projected to nearly double between 2015 and 2020 (Bureau of Economic Analysis, 2016). Consumers are spending more money on personal healthcare products as well as healthcare treatment which is due to the exponentially rising cost of healthcare being passed on to patients; while hospitals, pharmaceutical companies, insurance companies, and healthcare product providers are reporting record profits. The increase in profits can be attributed to the Affordable Care Act considering more American’s are getting insured and providers are able to collect money for services they would have been able to collect in the past, and would have had to write off as debt (Mathews,…

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